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GameStop stock drops after report that the next Xbox could block used games

GameStop Corp. stock price fell 6 percent today after a report that Microsoft Corp.’s next generate Xbox console will block users from reselling titles because games will be registered over the Internet.

Grapevine-based GameStop gets about half its profit from used video games. Shares closed at $25.20 on Wednesday, down $1.61.

Microsoft didn’t confirm the report first published on gaming website Edge.com. Bloomberg News quoted an analyst who said the report wasn’t accurate. Speculation about technology or decisions by console makers that would end up putting used games out of business have surfaced before.

GameStop offered the following response:

“GameStop cannot comment on market speculation or rumors about the specifications of a third party’s products. However, through surveys and feedback of our PowerUp members, we know the desire to purchase a next generation console would be significantly diminished if new consoles were to prohibit playing pre-owned games, limit portability or not play new physical games.”

GameStop has more than 21 million PowerUp reward program members and the group represents more than 30 percent of gaming consumption in the U.S.

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